Cat Losses Wreaking Havoc: How Can Carriers Turn Chaos to Their Advantage?
Progressive’s recent financial woes, highlighted in a June 14th P&C Specialist report, paint a grim picture for the insurance industry. The company’s […]
Heightened Privacy Concerns: The Telematics Backlash
Verisk partnered with major automakers like Ford, GM, Honda, and Hyundai to collect driving data. This data was shared with insurers, enabling personalized discounts for safe drivers. However, the program raised consumer concerns. Media reports exposed instances of GM sharing data without explicit customer knowledge, leading to lawsuits alleging privacy violations and potential premium increases. The resulting backlash prompted Verisk to terminate its telematics program.
Aerial Imagery Sparks Debate – Is There a Better Way to Assess Risk?
The growing use of aerial photography by insurance carriers has sparked controversy, pitting insurers eager to streamline risk assessment against homeowners troubled by a process they feel is opaque and potentially unfair. As insurers explore technological solutions to improve efficiency, could alternatives like VeracityID's idFetchTM provide a middle ground that balances accuracy with privacy and consumer empowerment?
Not your Mother’s Insurtech: A Personalized, Proactive Response to Risk Discovery
The concept of choice and personalization is spreading across industries. From streaming services to airlines, customers value the ability to tailor experiences to their individual needs. This same approach has the potential to revolutionize the insurance world, particularly the often impersonal and reactive claims process.
In Homeowners unmeasured risk is coming from inside the house
As we previously highlighted in our article, Hippo Bet on the Wrong Innovation, Hippo’s woes can be traced back to a fundamental […]
